GCI Financial- how reliable is this broker?

One of the first and most basic decisions related to trading forex involves the selection of a forex broker that suits your style and desire for safety and soundness. The landscape of available brokers is broad, making the decision a difficult one at best. If you want to deal with an innovator and seasoned broker, then GCITrading.com is for you. GCI Financial (“GCI”) is a securities and commodities trading firm, specializing in online Foreign Exchange (“Forex”) brokerage. In addition to Forex, GCI is a primary market maker in Contracts for Difference (“CFDs”) on shares, indices and futures, and offers one of the fastest growing online CFD trading services. GCI has over 10,000 clients worldwide, including individual traders, institutions, and money managers.

You can launch Chrome or Firefox to browse the internet, access email, etc., and download any applications that you might need. Of course, if you would like help installing any software that is not pre-included, we will be happy to assist. Simply open a support ticket to request assistance with anything. The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose.

For instance, research has shown that mutual funds that use incentive fees take on more risk than funds that do not, and tend to double down and increase their risk following a poor performance. This could be detrimental to a client during down markets. The minimum deposit at GCI Financial is $500 which is higher than the standard deposit requirement of most forex brokers. This is definitely bad news for newbie traders because they will be required to fork out a considerably high amount in order to open an account and be able to trade.

Company

Firm performs side-by-side management with accounts that have differing fee structures. Side-by-side management can create an incentive for the advisor to favor the larger funds, potentially leading to unequal trading costs and unfavorable trade executions for their clients. This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. Firm is affiliated with an insurance company or agent who may be motivated to insure clients with products that generate high sales commissions when lower cost alternatives may exist. Our searchable database of U.S.-based financial advisors includes more than 17,000 firms across the country. Each month, the investor.com Trust algorithm downloads the latest regulatory data from the SEC IAPD database.

A regulatory agency has previously denied, suspended, or revoked the firm’s or an advisory affiliate’s registration or license or otherwise restricted their activities. In the past ten years, a regulatory agency other than the SEC or CFTC has previously entered an order against this firm or an advisory affiliate in connection with an investment-related activity. GCI Financial deposit and withdrawal methods are not many.

Recent enhancements gci financial review the ability to “hedge” . GCI also offers Forex and CFD trading on the popular MetaTrader 4 trading platform. Trading directly from charts, fractional lot capabilities, the ability to program trading signals, and unlimited charts and technical indicators are among the many benefits. MetaTrader4 is ideal for novice traders and professionals alike. All major currency orders are filled directly in the Interbank market, with no dealer intervention or delays.

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Withdrawals can be made via the same methods listed above. Traders will need to complete a withdrawal form available from the client portal, and email it back to the broker. There are no withdrawal fees and most payment requests are processed within 24 hours.

• GCI Financial deposit and withdrawal methods are not many.
• GCI offers online trading in both Gold and Silver – commission free with low margin requirements.
• The bonus usually only starts giving some expenses back to the trader once the person has proved himself as an active trader.

It has adopted several self-regulatory measures to guarantee the security of client funds. The client’s funds are held in segregated accounts at top-rated banks. GCI maintains a balance sheet with Net Capital more than most minimum regulatory requirements, and clients earn 4% interest on their deposits, whether it is in EUR or USD. The ActTrader Account is ideal for traders who want to trade currencies and other major financial products with a low minimum transaction size and user-friendly interface. The MetaTrader Account offers a wider product range on the MetaTrader platform. We offer tailor-made, integrated financial planning solutions for individuals, businesses and affluent investors with integrity, …

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Furthermore, GCI has years of experience managing risk and a strong balance sheet with net capital in excess of most minimum regulatory requirements. With all this said, opening an account with GCI financial is a relatively low-risk decision to make. With almost twenty years’ experience behind it, and numerous industry awards to their name, there are few brokers with the same reputation in this space as GCI Financial have. Forex — the foreign exchange market is the biggest and the most liquid financial market in the world.

Unlimited charting and programmable trading signals are among the features offered in GCI’s MetaTrader account. In my opinion, like someone else said, you will hate GCI if you are not a genuine, true trader. By this I mean someone who can read charts, interpret indicators accurately and take trades with confidence and not scared to lose on some trades.

Save even more https://traderoom.info/ and money with additional managed services, like this reliable VoIP solution. GCI offer products and services specific to some locations. It’s our way of ensuring you see the right information, right when you need it. Here we present a comprehensive guide on how central banks influence the speed or slow down of forex trading. Compared to other platforms, CPT is much better when talking about trading environment–smooth withdrawal, less deposit, small trading size and good Stop-Loss. Complaints on a forex broker or a forex scam should be posted here, BrokerView will deal with the case.

Accounts can be funded via bank transfers, credit and debit cards, and a number of e-payment solutions, with transactions usually being processed very efficiently. When it comes to actually trading on the GCI Financial platform, two main options are provided. Firstly, you can use the proprietary trading platform developed in-house by GCI Financial—the ICTS trading platform.

It is the recipient of multiple industry awards over 13 years, including the Best Forex Broker Europe 2014. Should you run into any problems, the customer service team are always on hand to provide you with fast and effective support. Members of the support team are available 24 hours a day, five days each week, with support provided via email, phone, and live chat. CFDs and Forex are not only complex instruments, but they also have a high level of risk which may result in loss of funds that exceed the trader’s initial deposit. Leveraged product trading magnifies a trader’s potential profit – but of course, also increases the potential loss.

07 GCI Financial Reviews

However, GCI Trading has proven itself as being trustworthy with a sound reputation since its inception. Some companies provide an own proprietary platform, while others prefer well-known platforms. If there is a choice, the trader should keep in mind what he would like to trade. GCI Trading offers ActTrader and MetaTrader4 as the two trading platforms which are also linked to their respective account types. A forex account is a trading account held by a trader with a company like GCI Trading, that is issued with the primary purpose of trading through its platforms.

Withdrawals are processed within three business days after the receipt of the necessary regulatory paperwork. GCI does not charge for sending wire payments, however transfer fees that are applied by their remitting banks or payment system providers are automatically passed through to the customer. With over eighteen years in operation, GCI financial are one of the more experienced brokers currently around. In terms of the trading conditions on offer, GCI Financial offers a pretty decent trading environment all things considered. GCI Financial a zero commissions broker, and provide relatively low spreads with similarly low margin requirements. Gannett Co Inc creates media contents and delivers through print and digital daily and non-daily publications.

• This facility enables traders to get a larger exposure to the market than the amount they deposited to open a trade.
• When performance-based fees are charged, the financial advisor is paid for outperforming a benchmark, typically an index.
• Our experts have assessed this broker but could not confirm if GCI Financial is safe.
• Business description – A detailed description of the company’s operations and business divisions.
• GCI also offers Forex and CFD trading on the popular MetaTrader 4 trading platform.

Firm is a broker-dealer, or is affiliated with one, and may be subject to compensation-related conflicts of interest. When firms are dual-registered as broker-dealers, they may be subject to compensation-related conflicts of interest, including revenue sharing from mutual funds and the sale of proprietary investment products. These conflicts can negatively impact clients via hidden fees and overall higher costs. Orders take very long time to be executed are all market orders are executed at the defavor of the trader since they sytematically requote the price you see on the chart.

Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it. As with currency exchange markets, commodity markets offer trading in contract-based tradable goods. GCI Trading does not charge any commission and offers fixed spreads starting from 1 pip. Spreads depend on current market conditions and may vary causing the spreads to be narrower or wider. On both accounts, the minimum deposit required is $500 and investors can also opt for a managed account with a minimum deposit of $10 000.